Baird Maintains Outperform On Cadence Design; Increased Price Target Implies 16% Upside

July 27, 2021 1:26 PM | 23 seconds read |

Baird analyst Joe Vruwink raised the firm's price target on Cadence Design Systems Inc CDNS to $168 from $160, implying a 15.9% upside, and reiterated an Outperform rating.
The rating follows the company's strong Q2 results, raised guidance, and a CEO transition that he expects should be seamless.
Price action: CDNS shares traded lower by 2.71% at $141.04 on the last check Tuesday.